120,000 billion VND credit package: The important thing is to be on target, no need to be really urgent or really fast

ANTD.VN - The social housing credit package of 120,000 billion VND has so far disbursed about 640 billion VND. Legal problems are causing a shortage in the supply of social housing, causing loans to be disbursed in small amounts.

Disbursed 640 billion VND

According to the State Bank's report, up to now, only 28/63 provincial People's Committees have sent documents or announced on the electronic information portal the list of projects participating in the 120,000 billion VND Program with 68 projects.

Some provinces have announced many projects: Hanoi (6 projects), Ho Chi Minh City (6 projects), Bac Ninh (6 projects), Binh Dinh (5 projects)...

Of the 68 projects in 28 provinces and cities, 30 projects need loans. The remaining projects do not need loans because they have been completed or have arranged other sources of capital.

Of the 30 projects in need of loans, commercial banks have committed to providing credit to 15 projects with an amount of about VND 7,000 billion; of which, 10 projects need to disburse, including: 7 projects providing credit to investors, 2 projects providing credit to home buyers and 1 project providing credit to both investors and home buyers.

The amount of credit committed to 8 project owners is 1,965 billion VND and has been disbursed 640 billion VND; the amount of credit committed to 3 project home buyers is 7 billion VND, the amount disbursed is 6 billion VND.

Việc triển khai các dự án nhà ở xã hội còn nhiều vướng mắc

The implementation of social housing projects still faces many difficulties.

The disbursement of the VND120,000 billion credit package is still slow, according to real estate businesses, due to many reasons, such as lack of clean land, legal problems in implementing social housing projects, and long bank loan procedures. Not only that, some businesses said that the lending interest rate of the VND120,000 billion package is still high (not much lower than the normal interest rate on the market).

Mr. Vuong Quoc Toan, Chairman of the Board of Directors of Lan Hung Group, suggested that banks could increase the lending interest rate for enterprises that are project investors to 9-9.5%/year but reduce the lending interest rate for people to 6%/year to support home buyers. According to him, the lending interest rate of the current 120,000 billion VND package is still high compared to the income and repayment capacity of social housing buyers; along with that, the lending procedures are still complicated and need to be simplified.

It is important to lend to the right target and the right audience.

On the banking side, the lack of social housing projects also makes banks "red-eyed" looking for borrowers but unable to find them.

Mr. Le Ngoc Lam, General Director of BIDV, said that since the beginning of the year, BIDV's credit has been negative by more than 1%. Particularly with the VND120,000 billion package, BIDV has approached 8 projects, approved 4 projects with a total outstanding loan of nearly VND1,000 billion, but so far has only disbursed more than VND96 billion. The reason is that businesses want to implement the project with their own capital first, not wanting to use bank loans.

Ms. Phung Thi Binh, Deputy General Director of Agribank, also said that the bank has signed credit contracts with 8 social housing projects, committed to lending 2,500 billion and has disbursed 400 billion. Currently, the bank is approaching 5 new projects with a total customer loan amount of about 2,000 billion.

According to Ms. Binh, the reality is that many projects are facing legal problems and the target audience for social housing is too narrow, causing this credit package to be disbursed slowly.

Regarding the proposal of enterprises to further reduce interest rates, banks said that the capital source to maintain the current 120,000 billion package is the commercial banks' own resources, not the budget support capital. In the context of unclear interest rate trends, extending the preferential interest rate period to 5 years will be risky for banks.

Therefore, many bank leaders have proposed that the Government soon study the interest rate support mechanism or transfer the 2% interest rate support package (VND40,000 billion) to support social housing.

Although the social housing credit package is disbursed slowly, according to Deputy Governor of the State Bank of Vietnam Dao Minh Tu, the banking industry's viewpoint is to lend to the right target, the right subjects, aiming at social housing, housing for workers, and low-income people.

"Because this is a support package to serve the goal of 1 million social housing units, lasting nearly 10 years, the disbursement cannot be done very quickly. However, eligible projects must be disbursed immediately," the Deputy Governor emphasized.

According to the Deputy Governor, to promote this credit package, there needs to be synchronous participation of the political system, ministries, branches and localities to drastically speed up the implementation of the project to build at least 1 million apartments, thereby creating housing projects for commercial banks to consider lending.

Deputy Minister of Construction Nguyen Van Sinh said that the Ministry of Construction is asking localities to report on the implementation of the VND120,000 billion package; at the same time, the Ministry will discuss with the State Bank to review the difficulties that investors and home buyers encounter during the process of borrowing capital to jointly resolve them.

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